© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Daily Summary: Friday, March 24

MNI BRIEF: Taiwan Unemployment Up Slightly In February

MNI: PBOC Net Drains CNY173 Billion via OMOs Friday

MNI: UK MAR FLASH MANUF PMI 48.0 (FCST 49.7); FEB 49.3

PMI: Growth outside Germany and France strongest

MNI: EUROZONE MAR FLASH MANUF PMI 47.1 (FCST 49.0); FEB 48.5

MNI BRIEF: Yellen Says Americans' Deposits Are Safe

MNI BRIEF: Italy ESM Ratification Framed In EU’s Fiscal Debate

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

MNI: PBOC Net Injects CNY504 Billion via OMOs Tuesday

MNI (Singapore)
MNI (Beijing)
Policy NewsAPACChinaPolicy StoryStoryRegion
True

The People's Bank of China (PBOC) on Tuesday conducted CNY205 billion via 7-day reverse repos and CNY301 billion via 14-day reverse repos with the rates unchanged at 2.00% and 2.15%, respectively. The operation has led to a net injection of CNY504 billion after offsetting the maturity of CNY2 billion reverse repos today, according to Wind Information.

  • The operation aims to hedge the impact of tax paying and cash injection peak to keep banking system liquidity stable before Chinese New Year, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) fell to 2.1650% at 9:36 am local time from the close of 2.1849% on Monday.
  • The CFETS-NEX money-market sentiment index closed at 59 on Monday, compared with the close of 57 on Friday.
127 words

To read the full story

Why Subscribe to

MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The People's Bank of China (PBOC) on Tuesday conducted CNY205 billion via 7-day reverse repos and CNY301 billion via 14-day reverse repos with the rates unchanged at 2.00% and 2.15%, respectively. The operation has led to a net injection of CNY504 billion after offsetting the maturity of CNY2 billion reverse repos today, according to Wind Information.

  • The operation aims to hedge the impact of tax paying and cash injection peak to keep banking system liquidity stable before Chinese New Year, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) fell to 2.1650% at 9:36 am local time from the close of 2.1849% on Monday.
  • The CFETS-NEX money-market sentiment index closed at 59 on Monday, compared with the close of 57 on Friday.